Electric aircraft is experiencing significant growth and will grow considerably in the next few years. Electric aircraft are powered by electric motors, in which the electricity is supplied via multiple methods including batteries, solar cells, fuel cells, power beaming, and ground power cables. Moreover, electric aircraft promise huge advantages in regards to degrade the issues of air and noise pollutions and harmful emissions. In addition, electric motors have low maintenance and operational costs. These potential benefits of electric aircraft make them more adoptable over fuel-based aircraft. Moreover, electric aircraft replace petrochemical consumption with cleaner, battery-powered electricity.
The global electric aircraft is segmented on the basis of aircraft type, technology, range, component, and region. Based on aircraft type, the market is divided into ultra-light aircraft and light jet. Based on technology, the market is segmented into hybrid aircraft, and all electric aircraft. In terms of range, the market is bifurcated into less than 500 km and more than 500 km. On the basis of component, the market is separated into aircraft battery, aircraft electric motor, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
The benefits of electric aircraft over conventional aircrafts, rise in environmental concerns due to emissions, and low cost of electric aircraft ownership have augmented the growth of the global electric aircraft market. Whereas, the necessity to advance high-density battery solutions for electric aircraft impedes the market growth. On the other hand, the electrification of huge commercial jets, stringent regulations for emissions, and further technological advancements are anticipated to usher a number of opportunities, in the near future.